DEARBORN, Mich. Feb. 22, 2002 (PRNewswire-FirstCall) The Board of Directors of Consumers Energy Company, the principal subsidiary of CMS Energy Corporation has declared regular quarterly dividends on all series of the Company’s preferred stock. The dividends are payable April 1, 2002, to shareholders of record March 6, 2002.
The preferred dividends announced today by the Board of Directors are payable as follows: $1.04 per share on the $4.16 stock and $1.125 per share on the $4.50 stock.
In addition to the above dividends, distributions on the $2.09 Trust Originated Preferred Security (TOPrS) are payable March 31, 2002, in the amount of $0.5225 per preferred security, to holders of record on March 29, 2002. Similarly, distributions are payable March 31, 2002, on the $2.05 TOPrS in the amount of $0.5125 per preferred security, $0.578125 on the 9-1/4 percent TOPrS and $0.5625 on the 9 percent Trust Preferred Securities. These distributions are for holders of record March 29, 2002. The Company will pay to the Trustees interest on related debentures to cover such distributions.
In addition, a dividend on the 8.75 percent Adjustable Convertible Trust Securities related to CMS Energy in the amount of $0.907 per convertible security is payable on April 1, 2002, to holders of record March 15, 2002. CMS Energy will pay to the Trustees interest on related debentures to cover such dividend.
Also, a dividend on the Premium Equity Participating Securities (PEPS) is payable on May 18, 2002, in the amount of $0.453125 per security to holders of record on May 17, 2002. CMS Energy will pay to the Trustees interest on related debentures to cover such dividend.
CMS Energy Corporation has annual sales of $13 billion and assets of $16 billion throughout the U.S. and in selected foreign markets. In the U.S., where it has 86 percent of its assets, it owns and operates an electric and natural gas distribution company with 3.3 million customers; a 16,000 mile natural gas pipeline system and associated storage facilities; the nation’s largest LNG import facility; approximately 8,000 megawatts of power plants; a midstream natural gas gathering and processing company with 385 million cubic feet per day of capacity; an oil and gas exploration and production company with significant domestic gas reserves; and a energy marketing, trading and services company handling four billion cubic feet per day of natural gas and 100 million megawatt-hours of electricity annually.